Something’s off in the data. $PEOPLE saw 24h trading volume spike to $26 million, but the price only rose from 0.0059 to 0.0068—volatility is under 17%, yet trading volume is almost 3x higher than usual. This is a classic “volume spike with stagnation”—the bulls are pretending to be strong.

Three possible meanings: First, the main force is densely placing and matching orders in the 0.0068-0.0070 range to fabricate a prosperity illusion to lure retail buyers, while they’re actually unloading in batches. In the past 6 hours, I’ve monitored that the proportion of large orders sold was as high as 62%. Second, on-chain whales are accumulating during the low-liquidity hours in the early morning, but they intentionally suppress the price so it doesn’t break the prior high. The goal is to collect more cheap orders for the next pump—this tactic appeared last September. Third, a quantitative fund is doing market-making/arbitrage between 0.0065-0.0068, using high-frequency trading to eat up retail liquidation-stop orders. Once the price breaks below 0.0062, they will flip to short; within 24 hours, it may retrace to 0.0055.
Trading advice: Don’t chase. If you’re holding a position, reduce by one-third above 0.0068, and move your stop-loss up to 0.0060. For those on the sidelines, wait for the pullback to the 0.0062-0.0060 range to rebuild; if it breaks below 0.0058, you must exit. If you’re trying to bet on a breakout, set take-profit at 0.0072 and place a buy-the-dip order at 0.0065. Keep position sizing within 15% of total capital. This kind of signal doesn’t show up many times in a year, but the chance of getting it wrong isn’t small either.
I usually watch these abnormal volume-price relationships on the Gate plaza, mainly tracking on-chain data to find traces of the main force. $PEOPLE —if this wave can shrink volume and pull back to 0.0062 without breaking, the next target is 0.008. But if there’s a volume expansion breakdown below 0.0058, run quickly.
Vote: Do you think this wave is just a washout or a top?